Alan Greenspan, former Federal Reserve chairman. Interest rates on government bonds have never been lower.

Former Federal Reserve Chairman Alan Greenspan issued a bold warning Friday that the bond market is on the cusp of a collapse that also will threaten stock prices.

In a CNBC interview, the longtime central bank chief said the prolonged period of low interest rates is about to end and, with it, a bull market in fixed income that has lasted more than three decades.

"The current level of interest rates is abnormally low and there's only one direction in which they can go, and when they start they will be rather rapid," Greenspan said on "Squawk Box."

This is why anyone's guess on financial investment could be right or it could be wrong. I have a bad feeling about the bond market though and it is very odd that the Federal Reserve has been so reluctant to raise interest rates. I t must have to do with the smear campaign of Trump.